The proposal at its core is two recommendations:

1. Nationally elected officials will have limited property rights.

2. Political contributions will be made anonymously.

In detail:

1. Once someone is elected to Congress/President, the government takes all of their property. From that day forward til they die, they are paid a salary by the government. The salary will be based on the median American income. Not the median income per say, but tied to it so that they have a stake in the overall strength of the economy. They are paid the same once they retire/defeated in reelection attempt. Notice that this removes money as their incentive for continued working as an official. Hopefully, this attracts and keeps those that value public SERVICE.
That salary is the only money they can use. They can't accept large gifts. They can't work any other jobs, even when out of office. Their wives/husbands are tied to the same rules, and therefore will receive the same salary. Government housing can be provided to them in DC while in office.
A department will be created that audits the spending and lifestyles of our current and former officials. Their job will be to discover any spending outside the norm. Any extra money or property that they discover will be confiscated and shared will the government and the individuals that made the discovery. This will keep them motivated. Officials found guilty will be incarcerated.

All of the above is easy. What is complicated is addressing campaign finance. Money is needed for campaigns, no way around it. And people have a right to support ideas and candidates of their choosing. What I propose keeps people's "free speech" in that they can give money to politicians/campaigns, but they can't get individual benefits from those contributions.

2. All political contributions are anonymous. Another department is created. This one is the "middle man." Joe Blow wants to donate to Candidate A. Joe Blow writes a check/sends electronic money to the middle man. They take the check, document the transaction, and send the money to Candidate A's campaign account, without identifing Joe Blow. The middle man is legally obligated to keep the idenity of the contributor a secret. All contributions must come through the middle man. No campaign spending occurs without going thru the middle man. The previously created department in Part 1 can also audit the spending of the campaigns to make sure it is in line with the total number of contributions thru the middle man. Anything left in the candidates campaign fund is frozen after the election. It can be used in future elections. If the politician decides that he is done with office, then the remains of the campaign fund go to the general government pool.

Joe Blow can't tell Candidate A that he gave him money. This would also be illegal. Anything that informs the candidate of who is supporting him financially is illegal. Joe Blow can't buy a radio or TV ad supporting the candidate. Joe Blow can do very small things like put up yard signs and bumper stickers. He can say, "I support Candidate A, and here's why." But beyond yard signs and bumper stickers, he cannot spend any money supporting his candidate without sending it to the middle man, and he can't tell anyone the he sent money to the middle man in support of his candidate.

The middle man requires oversight. 8 years after each election, the middle man is audited. The middle man now must provide the records of who contributed what to whom. Numbers of total contributions sent to the middle man must equal what the candidates received. Failure to provide accurate records or for the numbers to add up correctly, would of course, result in prosecution. This coupled with 8 year term limits for officials, would result in proper middle man oversight without compromising number 2 "All political contributions are anonymous."